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MANNKIND CORP·4

Jul 17, 9:43 PM ET

Thomson David 4

Research Summary

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MannKind (MNKD) EVP David Thomson Exercises RSUs and Sells Shares

What Happened

  • David Thomson, EVP, General Counsel & Secretary of MannKind (MNKD), had 93,790 restricted stock units (RSUs) vest on July 15, 2026 (conversion recorded at $0.00). To cover tax liabilities, portions of the vested shares were delivered/withheld (four withholding transactions totaling $402,563). Separately, 24,109 shares were sold in an open-market sale on July 17, 2026 for $97,641 (weighted average sales price $4.05).

Key Details

  • Transaction dates and prices:
    • 2026-07-15: RSU vesting/conversion reported for 93,790 shares (exercise/conversion M) at $0.00.
    • 2026-07-15: Tax-withholding deliveries (code F) — 51,632 @ $4.09 ($211,175); 12,662 @ $4.09 ($51,788); 17,754 @ $4.09 ($72,614); 16,378 @ $4.09 ($66,986). Total tax-withholding value reported: $402,563.
    • 2026-07-17: Open-market sale (S) — 24,109 shares @ $4.05 for $97,641 (weighted avg $4.05; price range $3.98–$4.13).
  • Shares owned after transaction: Not disclosed in the provided excerpt — see the filed Form 4 for full beneficial ownership.
  • Notable footnotes:
    • F1: The RSU award was a performance award granted May 25, 2023 that vested at 83% of target (93,790 shares delivered; 19,210 forfeited).
    • F2: Withholding/delivery of shares was to satisfy tax liabilities incident to the RSU vesting.
    • F3: The July 17 sale occurred under a Rule 10b5-1 trading plan established Dec 2, 2025.
    • F4: Weighted average sales price reported as $4.05 (range $3.98–$4.13).
    • F5: Each RSU converts to one share of MNKD common stock.
  • Timeliness: Form 4 was filed July 17, 2026 for transactions on July 15, 2026 — within the usual two business-day reporting window (timely).

Context

  • This filing reflects a performance-based RSU vesting (an award being settled), not an outright market purchase. The withheld shares are routine tax withholding tied to the vesting event; the separate open-market sale was executed under a pre-existing 10b5-1 plan. Such sales following vesting are common and don't, by themselves, indicate insider sentiment about the company.